The National Settlement Depository, the Russian CSD, has introduced mandatory electronic matching of the OTC transactions settled through the CSD. This service has been optional for the CSD clients since 2014.
Being a registered participant of electronic matching from the very beginning, AO UniCredit Bank receives from NSD a MT548 with information on the most relevant and potential instructions sent by the counterparties and automatically forwards it to the clients on a real time basis.
Impact on Investors: The electronic matching helps to eliminate operational risks and risks of failed trades, ensuring higher rate of straight-through processing settlement of over-the-counter trades.
Related Newsflashes: ZAO UCB switches on electronic matching of OTC trades in November 2014